Freshpet (NASDAQ:FRPT) Cut to Sell at BidaskClub

BidaskClub lowered shares of Freshpet (NASDAQ:FRPT) from a hold rating to a sell rating in a research note released on Wednesday, May 9th.

Other research analysts also recently issued research reports about the stock. SunTrust Banks reaffirmed a buy rating and issued a $23.00 price target on shares of Freshpet in a report on Tuesday, March 6th. ValuEngine raised shares of Freshpet from a hold rating to a buy rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded shares of Freshpet from a sell rating to a hold rating in a research note on Wednesday, May 9th. Susquehanna Bancshares set a $17.00 target price on shares of Freshpet and gave the company a hold rating in a research note on Tuesday, May 8th. Finally, Imperial Capital reiterated an in-line rating and set a $18.00 price objective (up from $16.50) on shares of Freshpet in a research note on Friday, March 9th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $20.00.

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FRPT remained flat at $$21.75 during mid-day trading on Wednesday. 189,625 shares of the company’s stock were exchanged, compared to its average volume of 304,727. Freshpet has a 1-year low of $13.60 and a 1-year high of $22.15.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, May 7th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Freshpet had a negative return on equity of 4.35% and a negative net margin of 2.97%. The firm had revenue of $43.20 million during the quarter, compared to the consensus estimate of $42.06 million. During the same period in the prior year, the company posted ($0.09) EPS. The company’s quarterly revenue was up 25.2% on a year-over-year basis. equities research analysts predict that Freshpet will post -0.03 earnings per share for the current year.

In other Freshpet news, insider Scott James Morris sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $21.00, for a total value of $105,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Stephen Macchiaverna sold 4,946 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $20.50, for a total transaction of $101,393.00. Following the completion of the transaction, the vice president now owns 73,884 shares in the company, valued at $1,514,622. The disclosure for this sale can be found here. Insiders have sold 19,946 shares of company stock worth $414,393 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the business. Gilder Gagnon Howe & Co. LLC increased its position in shares of Freshpet by 59.4% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 2,682,342 shares of the company’s stock valued at $50,830,000 after purchasing an additional 999,832 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Freshpet by 0.3% in the 1st quarter. BlackRock Inc. now owns 1,526,129 shares of the company’s stock valued at $25,105,000 after buying an additional 4,854 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Freshpet by 0.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,180,263 shares of the company’s stock valued at $19,415,000 after buying an additional 9,130 shares in the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Freshpet by 11.4% in the 1st quarter. Wasatch Advisors Inc. now owns 912,675 shares of the company’s stock valued at $15,014,000 after buying an additional 93,161 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Freshpet by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 639,033 shares of the company’s stock valued at $12,109,000 after buying an additional 13,274 shares in the last quarter. 74.46% of the stock is currently owned by institutional investors.

About Freshpet

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.